Quotes by Michael Lewis

“On Wall Street, the lawyers play the same role as medics in war: They come in after the shooting is over to clean up the mess.”

“Holding one's self responsible is a critical feature in stigma and in the generation of shame since violation of standards, rules, and goals are insufficient in its elicitation unless responsibilit...”

“The author refers to a player's affected nonchalance and comments he is, "too young to realize you are what you pretend to be.”

“Weirdlybut as Danny and Amos had suspectedthe further the winning number was from the number on a person's lottery ticket, the less regret they felt. "In defiance of logic, there is a definite sens...”

“When you are a pessimist and the bad thing happens, you live it twice," Amos liked to say. "Once when you worry about it, and the second time when it happens.”

“I hated discussing ideas with investors," he said, "because I then become a Defender of the Idea, and that influences your thought process." Once you became an idea's defender you had a harder time...”

“And [Thaler] noticed that when he had his fellow economists to dinner, they filled up on cashews, which meant they had less appetite for the meal. More to the point, he noticed that they tended to ...”

“The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The banker...”

“The markets in the long run are no doubt driven by fundamental economic lawsif the United States runs a persistent trade deficit, the dollar will eventually plummetbut in the short run money flows ...”

“Stigmas speak to the idea of difference and how difference shames us and those we know.”

“Every form of strength is also a form of weakness, he once wrote. Pretty girls tend to become insufferable because, being pretty, their faults are too much tolerated. Possessions entrap men, and we...”

“People in both fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you gain a clear advantage.”

“Those who say don't know, those who know don't say”

“That's what happens when you're thirty-seven years old: you do the things you always did but the result is somehow different.”

“Baseball has so much history and tradition. You can respect it, or you can exploit it for profit, but it's still being made all over the place, all the time.”

“Baseball is a soap opera that lends itself to probabilistic thinking. [Dick Cramer]”

“I share your feeling that such behavior is, in some sense, unwise or erroneous, but this does not mean that it does not occur,' Amos wrote to an American economist who complained about the descript...”